Chevron Corp.

June 13, 1986|By Deanne Brandon

BITING THE BULLET. Reacting to slumping oil prices, Chevron Corp. said Thursday that 4,500, or 12 percent, of its regular employees will be cut through voluntary and mandatory early retirement. The company also said that it will eliminate 3,000 contract employees such as oil-field workers. About one-fourth of the employees losing their jobs will be in the San Francisco area at the company's headquarters.